ProPetro Q3 2024 GAAP EPS $(1.32) Misses $0.07 Estimate, Sales $360.870M Miss $364.741M Estimate
Portfolio Pulse from Benzinga Newsdesk
ProPetro Holding (NYSE:PUMP) reported a significant earnings miss for Q3 2024, with a GAAP EPS of $(1.32) compared to the expected $0.07. Sales also fell short of expectations, coming in at $360.870 million versus the $364.741 million estimate. Both earnings and sales showed a substantial decline from the same period last year.
October 30, 2024 | 11:10 am
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ProPetro Holding reported a significant earnings miss for Q3 2024, with a GAAP EPS of $(1.32) compared to the expected $0.07. Sales also fell short of expectations, coming in at $360.870 million versus the $364.741 million estimate. Both earnings and sales showed a substantial decline from the same period last year.
The significant miss on both earnings and sales compared to analyst estimates, along with the large year-over-year declines, are likely to negatively impact ProPetro's stock price in the short term. Investors typically react unfavorably to such substantial deviations from expectations.
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